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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue (Details)
3 Months Ended 12 Months Ended
Apr. 30, 2024
USD ($)
contract
MT
$ / T
shares
Apr. 30, 2023
USD ($)
shares
Jan. 31, 2024
USD ($)
$ / T
Jan. 31, 2023
$ / T
Disaggregation of Revenue [Line Items]        
Number of units outstanding | shares 13,120,010 13,120,010    
Revenue from Contract with Customer [Abstract]        
Royalty income (loss) $ 6,010,608 $ 1,711,316    
Base overriding royalties, first tier portion percentage 90.00%      
Base overriding royalties, first tier shipment ceiling (in million tons) | MT 4      
Base overriding royalties, second tier portion percentage 85.00%      
Base overriding royalties, second tier shipment ceiling (in million tons) | MT 2      
Base overriding royalties, third tier portion percentage 25.00%      
Base overriding royalties, third tier shipment threshold (in million tons) | MT 6      
Bonus royalty percentage 0.50%      
Bonus royalty, gross proceeds percentage 3.00%      
Royalty bonuses, price above adjusted threshold price per ton | $ / T 2.00      
Adjusted threshold price (in dollars per ton) | $ / T     67.75 66.00
Percentage of fee interest owned by Mesabi Land Trust in the lands subject to the Peters Lease 20.00%      
Accrued income receivable $ 1,828,842   $ 1,960,358  
Number of customer contracts | contract 1      
Net contract asset $ 1,559,969   451,896  
Contract asset 1,559,969   451,896  
Contract liability $ 0   $ 0  
Minimum        
Revenue from Contract with Customer [Abstract]        
Bonus royalty, gross proceeds percentage 1.00%      
Royalty bonuses, adjusted threshold price | $ / T 10.00      
First Million Tons Shipped or Deemed Shipped [Member]        
Revenue from Contract with Customer [Abstract]        
Royalty earned on tons shipped or deemed shipped, percentage 2.50%      
Second Million Tons Shipped or Deemed Shipped [Member]        
Revenue from Contract with Customer [Abstract]        
Royalty earned on tons shipped or deemed shipped, percentage 3.50%      
Third Million Tons Shipped or Deemed Shipped [Member]        
Revenue from Contract with Customer [Abstract]        
Royalty earned on tons shipped or deemed shipped, percentage 5.00%      
Fourth Million Tons Shipped or Deemed Shipped [Member        
Revenue from Contract with Customer [Abstract]        
Royalty earned on tons shipped or deemed shipped, percentage 5.50%      
Beyond Four Million Tons Shipped or Deemed Shipped [Member]        
Revenue from Contract with Customer [Abstract]        
Royalty earned on tons shipped or deemed shipped, percentage 6.00%      
Base Overriding Royalties        
Revenue from Contract with Customer [Abstract]        
Royalty income (loss) $ 3,417,645 961,798    
Bonus Royalties        
Revenue from Contract with Customer [Abstract]        
Royalty income (loss) 2,450,133 707,840    
Fee Royalties        
Revenue from Contract with Customer [Abstract]        
Royalty income (loss) $ 142,830 $ 41,678